Zijin Mining plans to buy nearly 12 per cent of Jiangnan Chemical

On November 14, Jiangnan Chemical announced that in order to optimize the debt, Dun 'an Group would sell 318 million shares of Jiangnan Chemical held by itself and related parties through the way of agreement transfer, accounting for 11.99% of the total capital stock of the listed company.

The transferee of the shares is Zijin Mining Zinan (Xiamen) Investment Partnership (Limited partnership), a partnership indirectly controlled by Zijin Mining, a listed company, mainly engaged in equity investment, investment management, asset management and other activities.

It is disclosed that the price of the share transfer is 5.08 yuan per share, and the total transfer price of the underlying shares is 1.614 billion yuan. As of the close of November 14, Jiangnan Chemical stock price is 5.08 yuan/share.

Jiangnan Chemical said that after the equity transfer, Dun 'an Group will withdraw from Jiangnan Chemical's shareholder sequence, and the shareholding structure of Jiangnan Chemical will be further optimized. At the same time, the introduction of strategic investors with high matching degree, high sense of identity and high synergy is conducive to improving the governance structure of Jiangnan Chemical Industry and enhancing the level of corporate governance. In addition, this equity acquisition by Zijin Mining further indicates its confidence in the development of Jiangnan Chemical Industry. In establishing a mutually beneficial and win-win cooperative relationship with Jiangnan Chemical Industry, the business collaboration between the two parties is expected to be further enhanced.